ITC Ltd Plans Major Rs 20,000 Crore Investment to Boost Growth

ITC Ltd has announced plans to inject Rs 20,000 crore into its diverse business operations over the medium term, aimed at enhancing manufacturing capacities and driving growth. Chairman Sanjiv Puri spoke of the company's commitment to leverage India's economic potential during a virtual Annual General Meeting.

The investment is set to focus on areas such as fast-moving consumer goods, sustainable packaging, and export-driven agricultural products. The strategy aligns with ITC's 'ITC Next' initiative, which seeks to cultivate a future-ready portfolio through both organic and inorganic growth avenues.

Amidst plans to expand its Food-Tech business and continually innovate its product lines, ITC strives to establish its domestic brands while expanding global reach. Recently, ITC launched over 100 new products and emphasized innovation to cater to evolving consumer needs.

(With inputs from agencies.)